Apex Money Posts

Good morning, money nerds. Let’s look at the stories we’ve gathered today.

Saving time. [The New York Times gift article] — “Any advice I’ve ever been given that’s actually resonated has boiled down to a variation on the same basic theme: Life is short. Stop wasting it. It comes packaged in varying poetic guises, each profound or corny, depending on how receptive or cynical one is feeling.”

Seven rules for happiness. [Scott H. Young] — “Happiness is a paradoxical goal. We all want to be happy, yet we often fail spectacularly at predicting what will make us happy. We pursue goals like wealth, fitness, status and mastery only to find that achieving them doesn’t really change our lives very much. In contrast, we often deliberately make ourselves miserable: we worry about things we cannot control, hold grudges against people we cannot influence, and spend time on activities we don’t truly value.”

How to increase your Luck Surface Area. [Codus Operandi] — “If there’s one thing I’ve discovered in recent years it’s this. The amount of serendipity that will occur in your life, your Luck Surface Area, is directly proportional to the degree to which you do something you’re passionate about combined with the total number of people to whom this is effectively communicated. It’s a simple concept, but an extremely powerful one because what it implies is that you can directly control the amount of luck you receive. In other words, you make your own luck.”

Here’s a two-hour live concert by Synthony, the EDM orchestra. That’s right: This is a mash-up between classical music and electronic dance music. It’s awesome! I found myself watching twenty minutes of it before I realized I had other stuff to do.

I’ll wager that many of you aren’t intrigued by that description. I encourage you to check this out anyhow. It’s fun.

Today is Tuesday, my friends. I’m J.D., and this is Apex Money. Let’s take a look at the stories I’ve gathered for today.

What’s the price of a childhood turned into content? [Cosmopolitan] — “Being the child of an influencer, Vanessa tells me, was the equivalent of having a full-time job—and then some. She remembers late nights in which the family recorded and rerecorded videos until her mother considered them perfect and days when creating content for the blog stretched into her homeschooling time. If she expressed her unease, she was told the family needed her.”

What are you willing to sacrifice for certainty? [Money with Katie] — “You know what happens when you pay down the debt faster—you save 2.75% in interest on each dollar of principal paid down. The stock market guarantees no such thing. You could make a contribution to an investment account and lose 10% that year, or make 30%. While we mostly know the average return is somewhere in the 7% per year ballpark, it involves more of a leap of faith than debt paydown.”

Achievement society is burning us out; we need to play more. [Psyche] — “We still experience the joy of play in adulthood, but only in moments that are few and far between. And even when we do play, it is seen as unserious or frivolous. In adulthood, play is taken to be nothing more than a short respite from work, a sojourn that helps us pass the time between periods of intense productivity. But…it is possible for our work to become play.”

Today’s video feature is a blast from the past! Here’s a look at Christmas shopping online in 1996.

True story: I’ve done a ton of soul-searching over the past couple of years, and one of my ultimate realizations is that I want this level of internet. I don’t want an always-on, high-speed connection in my pocket. That’s how I (and everyone else) get sucked into doomscrolling. When the internet operated like this, I had to be deliberate and considered in my online actions.

Okay, that’s it for now. I’m off to my watercolor class. (It’s play!) I’ll see you all tomorrow.

Yesterday, my girlfriend and I watched a movie I’ve been looking forward to: Perfect Days. This subtle film embodies so many of the themes I’ve been exploring during the past few years: financial independence, taoism, meaning, relationships, the sheer joy of being present.

Our favorite bit from the film: “Next time is next time. Now is now.”

Anyhow, the film reminded me of an article I read last week, an article that’s not specifically about money, but 100% about living a rich life. It’s our lead story today. And it’s lovely.

Obituary for a quiet life. [The Bitter Southerner] — “When the notable figures of our day pass away, they wind up on our screens, short clips documenting their achievements, talking heads discussing their influence. The quiet lives, though, pass on soundlessly in the background. And yet those are the lives in our skin, guiding us from breakfast to bed. They’re the lives that have made us, that keep the world turning.”

Why you need a WTF notebook. [Simpler Machines] — “There are always so many problems on a team, so many things that could be better, that I’m only ever going to solve a handful of them. Working on problems in the order I noticed them is rarely the most effective order. So the WTF Notebook gives me a place to park the impulse to fix it now, damn it! until I have more context for deciding what to work on first.”

How to fix an error on your credit report.[Bitches Get Riches] — “Today I’m going to walk you through the steps of identifying and fixing errors on your credit report. Statistically speaking, you might have a few! The Consumer Finance Protection Bureau says that one in five people have a mistake in at least one of their credit reports…And getting all three of the major credit reporting bureaus to correct those mistakes could give your credit score a needed boost.”

That’s it for today. I’ll be back tomorrow with more great stuff.

I don’t understand the reasoning behind why squatters can stay where they are squatting, but I love that there’s a guy making a good living out-squatting them.

Out-squatted: Handyman Flash Shelton will squat with your squatters — until they leave [LA Times] – “Shelton explains that the man is there illegally, and the team is not going anywhere until he leaves. The squatter was out before they could even share breakfast together.”

Challenging the Process [Novel Investor] – “Investing has a similar issue with uncertainty where random luck can confuse the results but sustained success comes from a great process. The best way to achieve a great process is to challenge and improve upon your existing one, as Bill Miller explained in a 2004 letter.” Annie Duke called this “resulting,” where you let the result of a process influence your analysis of that process. You put it all on Black in Roulette and won… so it must have been a good decision. 🤪

You Can Make IRA Contributions at Any Age, but Should You? [Morningstar] – “But a related provision that received less attention allows account owners to continue making contributions to traditional IRAs after they reach the required minimum distribution age (currently 73), provided they have earned income. Prior to the Secure Act’s passage, people couldn’t contribute to a traditional IRA if they were of RMD age or older. (Roth IRA contributions at any age have long been allowed, so long as the contributor—or their spouse—meets the earned income requirement.)” The big question is whether they should…

Finally, here’s a short video about Ikigai, a powerful idea.

Have a great weekend!

One of my favorite quotes / jokes is “happiness is making $1 more than your brother in law.”

I wish I knew where I heard it but the message rings true.

Wealth is relative.

It’s why you can see articles about people who make $400,000 and not “feel rich.” It’s because they’re surrounded by people who make $500,000 or $1,000,000 a year.

Comparison is the thief of joy… as President Theodore Roosevelt would say.

Rich People Who Don’t Feel Rich [A Wealth of Common Sense] – “Wealth is what you keep, not what you make but it’s hard to envision a world in which being in the top 3% of income is not considered rich.”

Valuing Social Security as an Asset in Your Retirement Plan [bestinterest.blog] – “All too often, I speak with current or future retirees who think along these lines:

“We don’t want to assume Social Security will be there for us. Let’s just focus on the assets in our control.”
“I know Social Security is there, but it’s so small. Let’s play it safe and ignore it for now.”
“Social Security is only $2000 monthly, whereas my IRA has $900K. Social Security is a drop in the bucket.”

These ideas are not only wrong but perilously so. To overlook Social Security is an unreasonably conservative retirement assumption.”

Finally, I leave you with this perfect tweet:

FU money, explained pic.twitter.com/q11jjjtw18

— Steph Smith (@stephsmithio) April 21, 2024

If you really want to trade stocks when the market is closed, there are ways. You don’t get full market participants, you’re usually trading with other people at the brokerage or in “dark pools” with other people, but it’s not the full market.

Do we really want 24/7 trading of stocks?

More to the point – since it’s already happening, would it be better if it happened in the open or just left to different groups?

It’s a sticky question… with no good answers. Personally, I think we don’t need 24/7 trading in any capacity. Take some time off.

New York Stock Exchange tests views on round-the-clock trading [Financial Times] – “The New York Stock Exchange is polling market participants on the merits of trading stocks around the clock as regulators scrutinise an application for the first 24/7 bourse.”

Biden’s student loan forgiveness plan, explained [Vox] – “On Friday, the White House announced that an additional 277,000 borrowers will see their student loans eliminated, amounting to about $7.4 billion in forgiven debt. Those borrowers qualified for that relief because they were enrolled in one of the loan repayment or forgiveness programs the administration created or revamped while it was also trying to roll out its original plan for broad loan cancellation.”

Rob Berger shares his experiences with Fidelity, Vanguard, and Schwab – he’s used all three over the last 20 years.

Happy Monday Apexians!

We’re starting off today with a bit of a heavier subject, lessons learned by a financial advisor after the passing of his father. It has a lot of tactical stuff regarding end of life planning but also quite a bit of emotional subjects too such as living with grief. It’s very powerful.

9 Lessons I’ve Learned About Death and Money [Kindness Financial Planning] – “These are the 9 lessons I learned about death and money during his 7 year battle with Stage IV Lung Cancer, increased cognitive impairment, relapse after 20 plus years of being sober, his death, and life post-death.

As a financial planner, I’m privileged to be alongside people as they experience death in their own lives. I hear what it’s like and help people plan to make it easier on their survivors. 

I’ll borrow a bit from my work and incorporate themes I’ve seen in my career, but most of this is my first hand experience, including fighting the healthcare system, how the legal system is not well set up for aging, and tips you can take to make it easier on your loved ones.”

Next, we lighten things up a bit – here’s a crazy story about what they’re playing around with at Johns Hopkin’s APL:

Scientists at APL Are Creating Food From Thin Air [Johns Hopkins Magazine] – “APL’s in-development system uses electricity, water, and engineered microbes to pull carbon dioxide, nitrogen, and trace minerals—such as magnesium, calcium, and iron—out of the air. Next, an electrochemical process involving common metals like tin and copper converts the CO₂ into acetate. From here, researchers can trigger a chemical reaction or introduce microbes to convert the acetate into simple sugars like glucose.” This is wild!

OK, so here’s another food related story and it’s completely by accident but related to money because California just increased the minimum wage for fast-food workers to $20 an hour:

‘Eat the future, pay with your face’: my dystopian trip to an AI burger joint [The Guardian] – “CaliExpress by Flippy claims to be the world’s first fully autonomous restaurant, using a system of AI-powered robots to churn out fast-food burgers and fries. A small number of humans are still required to push the buttons on the machines and assemble the burgers and toppings, but the companies involved tout that using their technology could cut labor costs, perhaps dramatically. “Eat the future,” they offer.”

All things being equal, is it better to have a person make it or a robot? I’d probably prefer the robot? It sounds like we’re a bit aways from them actually being able to make good burgers and fries but probably not that far away.

Hey, money nerds. It’s one of those days where I devote the entirety of Apex Money to one article. Why? Because I believe it’s both interesting and important. To that end:

There’s no such thing as a price anymore. [The Atlantic archive link] — “Prices aren’t just changing more often — they’re getting more complex, too. Fees, long the specialty of banks and credit-card companies, have proliferated across industries. Previously self-contained products (toothbrushes, movies, Microsoft Word) have turned into subscriptions, while previously bundled items (Wi-Fi at hotels, meals on airplanes) are now sold separately. Buying stuff online means navigating a flurry of discount codes, often just expired. Meanwhile, prices are becoming more personalized as companies hoover up customer data.”

Fascinating stuff. And frustrating. Forced subscriptions, forced bundles, and surge pricing have all been driving me nuts for several years now. Ultimately, so long as the U.S. is a de facto corpocracy, this kind of bullshit is only going to get worse and worse.

Good morning, friends, and welcome to another day of Apex Money.

Today’s first article should prove useful to me in the near future. I’m about to earn a regular income for the first time in years, so I’ll no longer qualify for subsidized health insurance. It’s time for me to dive into the healthcare marketplace!

How to choose the right healthcare plan for you. [Bitches Get Riches] — “Choosing the right healthcare plan can be intimidating, especially if you’re doing it for the first time. The stakes are high; the options are confusing; there’s often a small window during which you can make the choice before you lose your chance; and the whole thing highlights the merciless jank that is our healthcare system! Luckily, there’s an incredibly easy, 100% foolproof way to make the decision. Here’s our secret.”

Letting go of keeping up. [Reactor] — “Give yourself space. Step away from the internet. Ignore the websites that want you to rate and review art like it’s a toothbrush or a new pair of sneakers. Don’t even keep a list of books read, if you don’t want to. What we get from reading is not quantifiable, not a statistic to earn or an item to collect. It’s an experience, a process, an education, a gift.”

“37 pieces of career advice I wish I’d known earlier.” [Ryan Holiday] — “This post is about…things I wish I’d been told when I was just starting and things I still tell myself. Some of them might be exactly what you need to hear right now. Some might not apply to you yet, or ever. That’s okay. Whether you’re just starting out, looking to make a big change, or aiming to reach new heights in your current role, I hope you’ll find something here that helps you navigate your own unique path.”

Today’s non-financial video is right in my wheelhouse. It’s a twenty-minute compilation of Charles Schulz drawing Peanuts. I’ve seen some of these segments elsewhere before, but this industrious fellow has compiled a ton of them into one video. It’s awesome.

I continue to take art classes (I have three going right now!), and I’m making clear and obvious improvement. But I’m still a long way from being able to draw a comic strip, which is my ultimate goal.

Heigh-ho, money nerds. J.D. here with another week of Apex Money. I apologize for missing yesterday’s installment. I was hard at work in Real Life preparing for a variety of upcoming events. But I’m here today. And boy, do I have some great stuff!

I believe all three of these articles are fantastic and well worth your time:

“My advice to young people (or, The lies I tell myself).” [Jason Liu] — “You’ll notice that I use the word ‘choosing”‘frequently. I genuinely believe that we are always making choices and that we have the ability to choose. Choosing can be terrifying because it means we are accountable for our decisions, and there are infinite options before us. It is also frightening because once we have made a decision, we must live with it, it is the death of optionality. But I believe that choosing is the only way to live authentically.”

To make sure grandmas like his don’t get conned, he scams the scammers. [NPR] — “Kitboga, also called Kit, is a millennial with a knack for improvisation. He’s among the most popular of so-called scam baiters, a term used to describe those who aim to waste scammers’ time otherwise spent ripping off innocent victims. It’s a lucrative gig for some of the biggest creators in the genre who, like Kit, have quit their jobs to scam bait full-time, often broadcasting their humorous schemes on YouTube and Twitch. As internet scams spike, with victims losing more money than ever, scam baiters like Kitboga are trying to get more than just laughs.”

Anatomy of a credit-card rewards program. [Bits about Money] — “The heaviest credit card spenders — and this fact is both uncontroversial and flies in the face of what many personal finance columnists believe — are wealthy and sophisticated. They use credit cards primarily as payment instruments. Issuers compete aggressively for their business, which is quite lucrative. This is not because they pay much in interest, because while they have higher headline APRs they only rarely revolve balances. It is because ‘clipping the ticket’ via interchange on a high volume of transactions is an excellent business to be in.”

And, of course, we’re going to close out the day with a video completely unrelated to money. This one is a three-minute clip about a bulldog who is obsessed with bowls.

Animals are so funny — just like humans.

Okay, that’s it for today. I’ll be back tomorrow with more fun stuff for you. See you then.